Dayton, Montana Property Taxes
The median property tax rate in Dayton, MT is 0.51%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $592,600 in Dayton, the typical annual property tax bill reaches $3,177, which exceeds the national median of $2,690. Property taxes in Dayton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dayton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dayton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dayton, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$3,022
Ownwell’s Dayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dayton, Montana
Property taxes in Dayton, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Dayton's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59914 has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Dayton provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dayton Tax Rate
0.51%
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59914 | 0.49% | 0.49% | 0.51% | 0.57% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Montana
In Dayton, Montana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lake County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Dayton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Dayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Dayton is $3,177 in the 59914 zip code, while the lowest is also $3,177 in the same zip code, reflecting a consistent tax landscape.
Average Dayton Assessed Value
$592,600
Average Lake County Assessed Value
$340,373
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dayton, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59914 | $107,978 | $298,976 | $592,600 | $1,134,450 | $1,396,940 |
Source: Ownwell
Property Tax Bills Across Dayton, Montana
In Dayton, Lake County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $592,600, homeowners can expect varying tax bills depending on their property's specific assessed value. At the 25th percentile, property tax bills are around $1,752, while those at the 75th percentile reach up to $5,616. The top 10% of properties see tax bills as high as $6,800. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Homeowners in Dayton should be aware that these taxes fund essential local services such as schools, emergency services, and infrastructure. Understanding how these factors play into the overall tax bill can help homeowners better anticipate their annual financial obligations and plan accordingly.
Average Dayton Tax Bill
$3,177
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59914 | $832 | $1,752 | $3,177 | $5,616 | $6,800 |
Source: Ownwell